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IMA CMA Part 1 Study Guide

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Section 1 Align strategic planning, mission, goals, tactics, and analytical models Preview

Preview: B. Planning, Budgeting, and Forecasting (20%)

Preview includes
  • 4 of 8 lesson topics
  • 1 overview segment
  • 3 core concepts
  • 2 exam tips

Lesson Topics

  • Strategic Planning Fundamentals
  • Mission and Goal Definition
  • Tactical Alignment
  • Analytical Modeling Integration

Overview

Strategic planning converts mission and vision into measurable long-term objectives, initiatives, resource commitments, and operating plans.

Core Concepts

  • Mission explains the organization's fundamental purpose; vision describes a desired future state.
  • Goals/objectives convert broad strategy into measurable outcomes; effective objectives should be specific enough to guide action and evaluation.
  • Strategy is the coordinated approach for achieving long-term objectives; tactics are shorter-term actions used to execute strategy.

Exam Tips

  • Identify mission/objective first, then judge the tactic against it.
  • Separate external from internal factors before choosing an analytical response.
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Section 2 Analyze costs and variances against plans Pro
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Section 3 Analyze primary financial statements and consolidated reporting Pro
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Section 4 Apply cost concepts, behavior, and measurement systems Pro
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Section 5 Evaluate governance, risk, compliance, and control design Pro
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Section 6 Evaluate accounting, ERP, and performance-management systems Pro
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Section 7 Evaluate budgeting concepts and methodologies Pro
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Section 8 Evaluate responsibility centers, segments, and transfer pricing Pro
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Section 9 Apply recognition, measurement, and valuation concepts Pro
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Section 10 Use job, activity-based, life-cycle, and other costing systems Pro
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Section 11 Evaluate system controls, security, backup, and continuity Pro
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Section 12 Apply data governance and security controls Pro
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Section 13 Apply forecasting techniques Pro
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Section 14 Select and interpret performance measures Pro
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Section 15 Distinguish major U.S. GAAP and IFRS differences Pro
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Section 16 Allocate overhead and analyze capacity Pro
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Section 17 Assess finance transformation and automation Pro
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Section 18 Build annual profit plans and financial projections Pro
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Section 19 Improve supply chains and business processes Pro
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Section 20 Use business intelligence, mining, analytics, and visualization Pro
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